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01/14
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we begin with the breaking news, janet yellen officially confirmed as chair of the federal reserve. eamon javers joins us with all the details. good evening. >> reporter: in the end the vote was 56-26 to confirm janet yellen as chair of the federal reserve, the first woman to hold that title and by some accounts, as of tonight, the most powerful woman in the world. larry, 56-26 is a bit of an unusual vote total in the united states senate. you might notice it doesn't quite add up to 100 senators. they had a little difficulty with all the travel troubles getting senators in washington in time for the vote. 26 no votes for janet yellen, a few short of the no votes for ben bernanke in 2010. the fed will take that away as a positive signal as the health of the fed. there were some detractors out there today. listen to senator chuck grassley speaking just before the vote. >> the stock market has become addicted to the fed's easy money policies. this has led one notable investment adviser to question whether the fed will ever able to end the quantitative easing program. >> and, larry, tha
we begin with the breaking news, janet yellen officially confirmed as chair of the federal reserve. eamon javers joins us with all the details. good evening. >> reporter: in the end the vote was 56-26 to confirm janet yellen as chair of the federal reserve, the first woman to hold that title and by some accounts, as of tonight, the most powerful woman in the world. larry, 56-26 is a bit of an unusual vote total in the united states senate. you might notice it doesn't quite add up to 100...
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senators today confirmed janet yellen as the first woman to lead the federal reserve. in washington, d.c. she has been vice chair of the u.s. central bank since 2010. she has been a strong advocate for fight unemployment and a backer of the efforts to spur the economy with low interest rates. replacing chairman benbernancke >> the flu is wide spread in about half of the united states. hardest hit states include oregon and nevada. experts say best ways to avoid getting the flu include washing hands a lot and getting a new shot. >> we worry about flu in anyone with chronic illness and asthma. and in young children. >> santa clara county reported the california's first flu death of the season the swine flu has been found in contra costa and marin counties >>> a billionaire shipping magnate donated to conditionser researchers. estate of daniel ludwig donated $540 million institutions including stanford. going to fund ludwig cancer center for research and medicine. today's gift is one of the largest made to the field of cancer research from an individual donor. >> bay area
senators today confirmed janet yellen as the first woman to lead the federal reserve. in washington, d.c. she has been vice chair of the u.s. central bank since 2010. she has been a strong advocate for fight unemployment and a backer of the efforts to spur the economy with low interest rates. replacing chairman benbernancke >> the flu is wide spread in about half of the united states. hardest hit states include oregon and nevada. experts say best ways to avoid getting the flu include...
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Jan 4, 2014
01/14
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he's getting ready to leave office and janet yellen will be coming in. we saw some tapering. what that suggests, is the economy getting better and should the fed be less involved in this economy? i think that that is going to be a mistake. because i don't see the main street numbers matching the data in an effort for the fed to not be involved at all. i want to see a free market, but the fed being involved somewhat here i think is important, because, kelly, we had -- in 1980, we had $1 trillion in a federal deficit. today, we stand at $17 trillion. we have a half a million jobs on a yearly basis leaving the united states and going to china. we have an unemployment rate that is extremely high. we currently have 56 million americans approximately on social security. they estimate in the year 2035 to have $94 million people collecting social security -- >> kyle, to your point then -- >> these numbers are -- >> your point -- >> my point is the following, that we need to create profits in a healthy fashion. keep and create more jobs here in the united states in an effort to have a
he's getting ready to leave office and janet yellen will be coming in. we saw some tapering. what that suggests, is the economy getting better and should the fed be less involved in this economy? i think that that is going to be a mistake. because i don't see the main street numbers matching the data in an effort for the fed to not be involved at all. i want to see a free market, but the fed being involved somewhat here i think is important, because, kelly, we had -- in 1980, we had $1 trillion...
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Jan 6, 2014
01/14
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the senate is going to vote on janet yellen's nomination. that's set for 5:30. oh, my god, they are working that late today? she's expected to win confirmation. and treasurecy secretary jack lew is going to visit france, germany and portugal and hold discussions with his counterparts. he's expected to renew pressure on germany to boost domestic demand and embrace a deeper banking union, which a lot of people think would be important. they have -- they are supposedly one place and it's only just -- words are one thing, but they need to have a lot more things to come under one body. >> that was the problem the whole time. you have to be able to take autonomy and make decisions overall, if you can't do that -- >> remember when tim told him what to do. they didn't like that. >> yeah. they do chafe at things like that, but i think we're in a position -- >> it's a lousezy time of year to go over there. >> we're headed to, i do. >> if he's going to ski, that's a different story. >>> we'll talk about technology news, the annual international gadget show is taking place
the senate is going to vote on janet yellen's nomination. that's set for 5:30. oh, my god, they are working that late today? she's expected to win confirmation. and treasurecy secretary jack lew is going to visit france, germany and portugal and hold discussions with his counterparts. he's expected to renew pressure on germany to boost domestic demand and embrace a deeper banking union, which a lot of people think would be important. they have -- they are supposedly one place and it's only just...
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Jan 2, 2014
01/14
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janet yellen, edie windsor? >> ben carson's speech. did it puncture a hole in the conscious of america's soul? was that a powerful speech? it was not? come on. >> i think he embarrassed himself. you had young people who admired him said they didn't want him speaking at their college. back to the pope. the pope isn't a liberal. the pope read the bible. he's supporting poor people. >> i went the to seminary. render unto caesar that which is caesar's and unto god that which is god's. considering god made everything, caesar gets nothing. go ahead. >> i want to give credit to george bush. i think the american people are finally getting to see his true character. he's a man of integrity. he's a classy guy and has a huge heart. finally now that the mainstream media backed off and stopped demonizing him we are getting to see the real george bush. they like him. >> one of the things that frustrated me all the years that i is known him and interviewed him is i never felt the media did him justice in terms of showing how much he loved and cared,
janet yellen, edie windsor? >> ben carson's speech. did it puncture a hole in the conscious of america's soul? was that a powerful speech? it was not? come on. >> i think he embarrassed himself. you had young people who admired him said they didn't want him speaking at their college. back to the pope. the pope isn't a liberal. the pope read the bible. he's supporting poor people. >> i went the to seminary. render unto caesar that which is caesar's and unto god that which is...
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Jan 7, 2014
01/14
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senate has confirmed janet yellen yellen as being the next fed chairman. yellen now will become the first woman to lead the federal reserve in its 1100-year history. she'll be sworn in on february 1st and lead they are first fomc meeting in march. >>> the senate holds a procedural vote today at 10:00 eastern on whether to consider a bill to extend long-term unemployment benefits for 1.3 million americans. the vote was originally set for monday, but with several lawmakers unable to return to washington because of the weather it was put off. the measure would extend benefits that expired last month while the senate seeks a way to offset the monies. >>> up next, another employee is expected to go on trial for insider trading. details on this case next. ley ]. [ male announcer ] with nearly 7 million investors... oh hey, neill, how are you? [ male announcer ] ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. >>> u.s. prosecutors ar
senate has confirmed janet yellen yellen as being the next fed chairman. yellen now will become the first woman to lead the federal reserve in its 1100-year history. she'll be sworn in on february 1st and lead they are first fomc meeting in march. >>> the senate holds a procedural vote today at 10:00 eastern on whether to consider a bill to extend long-term unemployment benefits for 1.3 million americans. the vote was originally set for monday, but with several lawmakers unable to...
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Jan 7, 2014
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here's the ten year a day after janet yellen was confirmed by the senate 56-26. got some fed speak on the docket today as well. european inflation or the lack of it continues to be a concern for some economists, but stocks over there are in the green. our roadmap begins with the coldest arctic blast in at least 20 years affecting more than half the nation's population. wreaking havoc on commutes, travel and businesses. >> and the s&p meanwhile looking to avoid doing something it hasn't done in a very long time, that is, a fourth consecutive time since the start of the year. >> morgan stanley downgrading netflix from underweight to equal weight. >>> and scott cohen reports jpmorgan chase officials will avoid madoff related penalties and jury selection begins for the inside trading case for s.e.c. capital portfolio manager matthew martoma. >>> a deep freeze is gripping much of the u.s. forcing businesses and schools to close canceling thousands of flights. it's one of the coldest arctic outbreaks since the '90s and it's taking a toll on the midwest, the deep south
here's the ten year a day after janet yellen was confirmed by the senate 56-26. got some fed speak on the docket today as well. european inflation or the lack of it continues to be a concern for some economists, but stocks over there are in the green. our roadmap begins with the coldest arctic blast in at least 20 years affecting more than half the nation's population. wreaking havoc on commutes, travel and businesses. >> and the s&p meanwhile looking to avoid doing something it...
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Jan 7, 2014
01/14
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janet yellen has been confirmed as the next chair of the federal reserve. the senate voting 56-26 last night to approve her. democrats were joined by -- to sit in between them. we continue to watch the markets and various historical indicators. right now, we are down three for three for the first three trading days of 2013. the s&p 500 closing lower every session, making it the worst start to the year in almost a deca decade. the futures this morning, after all of that, at least at this point look like they are up sharply. dow futures up by about 78 points above fair value. the s&p 500 futures up by better than 7.5 points and the nasdaq up by just over 13 points. then, whether on wall street or main street, there is the story that everybody is talking about this morning, and that is the weather. meteorologists are calling it a polar vortex from the north pole. almost 2,000 cancellations have been made for today for the flights. jet blue is hoping to get back in the air after shutting down completely in new york and boston yesterday. the airline says operati
janet yellen has been confirmed as the next chair of the federal reserve. the senate voting 56-26 last night to approve her. democrats were joined by -- to sit in between them. we continue to watch the markets and various historical indicators. right now, we are down three for three for the first three trading days of 2013. the s&p 500 closing lower every session, making it the worst start to the year in almost a deca decade. the futures this morning, after all of that, at least at this...
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Jan 3, 2014
01/14
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last month, lawmakers voted to move forward for janet yellen's nomination as his replacement. steven, very good morning to you. happy new year to you. >> good morning. and happy new year to you. >> right. so, look, thank goodness we can start the year without talking about, you know, whether they're going to taper or not. so that was the good news at the end of last year. why does the -- why does the fed and its policies resemble a jane austin novel? >> oh, goodness. i happened to be reading "sense and sensibility" and it turned out that many of the comments that she gave in the book on issues that existed in the early 19th century were appropriate to what we were -- some of the issues under discussion. entitlement reform, the importance of wealth, and it could be a very interesting comment on how being rich makes you kind of more attractive as a person. it's very much in line with some of the policies that the that the fed has been following and advocating. >> yeah. the market reaction to tapering. i love the quote you took there. the difference between the expectation of an
last month, lawmakers voted to move forward for janet yellen's nomination as his replacement. steven, very good morning to you. happy new year to you. >> good morning. and happy new year to you. >> right. so, look, thank goodness we can start the year without talking about, you know, whether they're going to taper or not. so that was the good news at the end of last year. why does the -- why does the fed and its policies resemble a jane austin novel? >> oh, goodness. i...
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Jan 6, 2014
01/14
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we have a lot of data, possibly janet yellen's confirmation this afternoon. there's a lot for the market to digest. bob pisani is here to talk about it. >> the dow was up 50 points and within ten minutes of being on the air, ten minutes i was on air for the open, we just drifted lower. take a look at the s&p 500. we're struggling now, essentially three days on the down side. that hasn't happened since 2005. bond yields drop as the ism services came in weaker than expected and it kept dropping. the markets didn't immediately react to that but there you see right after 10:00, those numbers coming in. people asking me what's wrong with the stock market, bob. i'm not sure there is a lot wrong with it. if you want some reasons, the china data was weaker the last several days, the ism services and the manufacturing numbers. the u.s. data has been choppy. the services number for today for ism and the december auto sales were nothing to write home about. then the cold weather has been impacting the economy. hope you have been listening to phil out there talking about
we have a lot of data, possibly janet yellen's confirmation this afternoon. there's a lot for the market to digest. bob pisani is here to talk about it. >> the dow was up 50 points and within ten minutes of being on the air, ten minutes i was on air for the open, we just drifted lower. take a look at the s&p 500. we're struggling now, essentially three days on the down side. that hasn't happened since 2005. bond yields drop as the ism services came in weaker than expected and it kept...
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Jan 6, 2014
01/14
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janet yellen expected to be confirmed as the next fed chair. if she's confirmed she'll be the first woman ever to run the federal reserve starting february 1st. alfred former richmond federal reserve president and risk advisory chairman joining us this morning with more. guys, good morning to both of you. >> good morning, carl. >> it's been said she's in, mark, essentially. the thing to watch will be no votes. i think bernanke got 30, which was one of the highest ever. what are you expecting? >> when you're going through the confirmation process, no news is good news, and that's what we're hearing about vice chair yellen at the moment. i suspect it will be a handful of votes but not many. now that you only need to reach the 50-vote threshold, that makes it a lot easier and a lot less reason to get excited. >> al, after today and after she is effectively given the gavel, how does she get through the first couple of weeks here? we're going to get a lot of fed speak. and now that we know the taper question is relatively answered, what are we looki
janet yellen expected to be confirmed as the next fed chair. if she's confirmed she'll be the first woman ever to run the federal reserve starting february 1st. alfred former richmond federal reserve president and risk advisory chairman joining us this morning with more. guys, good morning to both of you. >> good morning, carl. >> it's been said she's in, mark, essentially. the thing to watch will be no votes. i think bernanke got 30, which was one of the highest ever. what are you...
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Jan 7, 2014
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we have janet yellen in place. and we'll see if the market will continue to go up. >> one smart call by brian on the jobs report. a note by goldman says we could see a weaker report. the cold weather may have an impact in seasonal jobs. watch the cold weather impact on jobs. we talk about our stocks over or under value, it all depends on economic growth. if the u.s. economy can grow this year at 4%, stocks are likely undervalued, corporate sales and earnings will go up f we grow weaker than expected, 1, 1.5%, to 2%, stocks are overvalued. how the overall economy does this year. that's the big question. things have gotten better. will they continue to get better? there it is. that's it. i don't know. >> let's talk about china. obviously, there's concerns about their economy. as they led more products into their country, it's a huge market still. especially in the gaming space. >> yeah. this could be a big win for a company like a microsoft, perhaps a sony. foreign-made game consoles have been banned for sale in chin
we have janet yellen in place. and we'll see if the market will continue to go up. >> one smart call by brian on the jobs report. a note by goldman says we could see a weaker report. the cold weather may have an impact in seasonal jobs. watch the cold weather impact on jobs. we talk about our stocks over or under value, it all depends on economic growth. if the u.s. economy can grow this year at 4%, stocks are likely undervalued, corporate sales and earnings will go up f we grow weaker...
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Jan 2, 2014
01/14
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washington is a lot less of a worry with the budget deal and janet yellen and lower deficit projections all a tail wind for the stock market. the eurozone is tougher to figure out. we had a big run-up in stock prices in the eurozone at the end of the year and that makes me nervous about it. they had six straight quarterly declines and that's why everybody piled into european stocks. now there's a real valuation issue in europe. everyone greens that the chi is improving but this is a really tough call as far as i can see. i've had people on both sides of that issue. it's a tough call as well as on the emerging markets. we had things happen last year to degrees that people did not anticipate. essentially the valuation was the major story last year affecting emerging markets, then the taper story killed the emerging markets and china really got clobbered, all of the emerging markets. can you get minimal growth in year in the emerging markets but when you get this kind of intervention going on on three sides, it's no wonder we had a major problem last year with emerging markets. the only th
washington is a lot less of a worry with the budget deal and janet yellen and lower deficit projections all a tail wind for the stock market. the eurozone is tougher to figure out. we had a big run-up in stock prices in the eurozone at the end of the year and that makes me nervous about it. they had six straight quarterly declines and that's why everybody piled into european stocks. now there's a real valuation issue in europe. everyone greens that the chi is improving but this is a really...
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Jan 7, 2014
01/14
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KRON
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season newly confirmed federal reserve chairwoman janet yellen takes on her new role february 1st. the senate voted yellen into the fed's top post yesterday by a vote of 56 to 26. economists think yellen's biggest challenge will be deciding how to ease off policies that were aimed at pushing down interest rates caused by the great recession. yellen is a long-time fed official. many democrats hope she will focus on helping the nation's unemployed workers. [ female announcer ] it's a warm sunris over a classic roast. it's a morning breeze smooth as black silk. with folgers gourmet selections k-cup packs you can turn any day gourmet rich roasts and flavors... available where you buy groceries. check it out. learning's fun now. yeah, back in our day, we didn't have u-verse high speed internet to play and learn online. all we had was that franklin fuzzypants. ah, the educational toy bear. remember when the battery went out? [ slow, deep voice ] give me your abc's. all i learned was a new definition of fear. i need some pudding. yeah, there's one left. [ male announcer ] connect all your
season newly confirmed federal reserve chairwoman janet yellen takes on her new role february 1st. the senate voted yellen into the fed's top post yesterday by a vote of 56 to 26. economists think yellen's biggest challenge will be deciding how to ease off policies that were aimed at pushing down interest rates caused by the great recession. yellen is a long-time fed official. many democrats hope she will focus on helping the nation's unemployed workers. [ female announcer ] it's a warm sunris...
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Jan 6, 2014
01/14
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we know that later today in the senate, it sounds like after they vote on janet yellen, they may take up whether or not to extend jobless benefits. another emergency measure, was fort recession that ended about five years ago when you started the job. what's going to happen? >> right now the votes are not there. it seems like senator reid needs about four other republicans to come over to get over the 60-vote threshold. that's the procedural hurdle. he doesn't have them right now. he may have them, but the debate starts today in the senate. essentially republicans, the pushback here is they want it paid for. they want to see spending cuts equal to what it would cost. $26 billion to extend unemployment benefits under this plan for three months to all of the people that would be receiving them. and republicans say that should be paid for somehow. so there may be a deal in the works, but right now there is not and the prospect of it going in the house doesn't seem to be that high. >> i was just going to say, regarding some sort of a deal, it sounds like some republicans are saying, what
we know that later today in the senate, it sounds like after they vote on janet yellen, they may take up whether or not to extend jobless benefits. another emergency measure, was fort recession that ended about five years ago when you started the job. what's going to happen? >> right now the votes are not there. it seems like senator reid needs about four other republicans to come over to get over the 60-vote threshold. that's the procedural hurdle. he doesn't have them right now. he may...
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Jan 1, 2014
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now we've got janet yellen. you predict failures that could set us back. >> she's a very different person. bernanke said i can't bail out general motors. that's industrial policy. she might feel differently about bailing out the insurance companies, or the big companies that get trashed in china. just about every big multi national in the united states, general motors, ge and so forth are heavily invested in china. if that place crashes, they're in trouble. if she starts bailing them out, we're on the road to being a latin american republic in the 1970s where you have basically lots of corruption by virtue of so much government money floating around. it's not just the inflation. government money encourages corruption, inefficient city and wherever that's been done, economies grow very slowly. you have basically the italian problem. >> do you think we're going to be bailing out the insurance companies? >> i think we may be. no one really knows just how short of cash they are. but think about this, all those peopl
now we've got janet yellen. you predict failures that could set us back. >> she's a very different person. bernanke said i can't bail out general motors. that's industrial policy. she might feel differently about bailing out the insurance companies, or the big companies that get trashed in china. just about every big multi national in the united states, general motors, ge and so forth are heavily invested in china. if that place crashes, they're in trouble. if she starts bailing them out,...
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Jan 6, 2014
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janet yellen, fed chair today. >> yeah. it looks like she'll face the committee in washington, and then finally be approved as the next head of the federal reserve. we don't expect a lot of fireworks at this hearing, maybe rand paul might make some noise. but other than that, the bigger question for the markets, of course, what is fed policy going to be? a lot of folks think it will be pretty much the same as under ben bernanke, so fairly seamless. if anything, she's softer than ben bernanke when it comes to easy money. it's been a rough start to the new year. the worst start for january since 2008. so we'll be watching to see -- and if she says significant about tapering or anything related to fed policy that might move the markets. and we're probably watching shares of amazon, unlikely to move a lot because of the news over the weekend that jeff bezos had to be ferried out of ecuador, because of the kidney stones. they don't kill you, but they are incredibly painful. what might happen with amazon, the investors might ask
janet yellen, fed chair today. >> yeah. it looks like she'll face the committee in washington, and then finally be approved as the next head of the federal reserve. we don't expect a lot of fireworks at this hearing, maybe rand paul might make some noise. but other than that, the bigger question for the markets, of course, what is fed policy going to be? a lot of folks think it will be pretty much the same as under ben bernanke, so fairly seamless. if anything, she's softer than ben...